Venezuela's Oil Negotiations: A Potential Shift in U.S. Relations

Venezuela's PDVSA is advancing in discussions with the U.S. for oil sales, with America desiring access to Venezuelan reserves. Following Washington's agreement for $2 billion worth of oil, negotiations center on terms similar to those with Chevron. Board member Rangel emphasized sales at international rates despite U.S. demands.

Venezuela's state-run oil company, PDVSA, announced progress in negotiations with the United States concerning strategic oil sales. A board member revealed the U.S. could secure cargoes at international market prices, marking a potential shift in Venezuela-U.S. relations.

On Tuesday, a significant development emerged when Washington disclosed a deal to access up to $2 billion in Venezuelan crude. This move comes in response to previous demands by President Trump, urging Venezuelan officials to open their oil industry to U.S. companies or face potential military action.

According to a PDVSA statement, discussions are aligning with current agreements held by foreign partners like Chevron. Wills Rangel, a PDVSA board member, insisted on maintaining sales at market rates, dismissing any notion of U.S. entitlement due to alleged debts owed by Venezuela.

(With inputs from agencies.)